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SIR – Charles Moore asks why Philip Hammond doesn’t apply even fiercer strictures to a British trade deal with the EU than he does to John Bolton’s proposed “great trade deal” with the United States.

As a member of the board of governors of the European Investment Bank (EIB), Mr Hammond signed off on a most unattractive agreement under which Britain would dispose of its interest in the bank on terms that clearly inequitably benefit the EU to our disadvantage.

Britain owns 16.1 per cent of the EIB. The Withdrawal Agreement provides that Britain will be repaid its nominal capital of €3.5 billion, but will leave its rightful share of the retained earnings, €7.6 billion, for the remaining EU-27 members’...